KSI_NMM
The network management system market is anticipated to grow at a significant CAGR of close to 9%.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, July 21, 2023/EINPresswire.com/ — According to a new report on the Network Management System Market published by Knowledge Sourcing Intelligence, forecasted between 2023 and 2028, the network management system market is anticipated to grow at a CAGR of 8.61% over the forecast period to reach a market valuation worth US$12,309.292 million by the year 2028.
The expansion of network infrastructure across different sectors globally, coupled with a rising emphasis of companies and enterprises on improving their Quality of Service (QoS) and Quality of Experience (QoE), is significantly driving the network management systems market growth.
A network management system is a specialized application that empowers network engineers to efficiently oversee individual components within a larger network management framework. Its protocol establishes a set of processes, procedures, and policies designed to govern the management, monitoring, and maintenance of the network, ensuring its optimal performance and reliability.
New product launches and technological advancements are further stimulating the market growth. For instance, in June 2023, Nokia, the Finnish telecom gear maker, introduced its cutting-edge range of intelligent network management and optimization solutions called MantaRay. Leveraging the power of Artificial Intelligence/Machine Learning (AI/ML), MantaRay is designed to enable smart, efficient, and cognitive Radio Access Network (RAN) operations. The MantaRay portfolio comprises MantaRay Network Management, Core Network Management, MantaRay SON (Self-Organizing Networks), and MantaRay RIC.
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The network management system market based on component has been bifurcated into two primary categories which includes solutions and services. Solutions encompass software and hardware products that facilitate centralized network monitoring and control. On the other hand, the services category includes professional services such as installation, configuration, maintenance, and support of network management solutions.
By deployment model, the network management system market is segmented into cloud-based and on-premise solutions. These deployment options cater to the varying preferences and requirements of businesses seeking network management solutions.
Based on enterprise size the network management system market is categorized into small, medium, and large enterprises. Each segment represents distinct customer groups with specific network management needs and scale.
The network management system caters to a diverse range of end users including communication and technology, BFSI, government, manufacturing, retail, transportation and logistics, and others. These end users rely on network management systems to ensure efficient network operations and enhanced security.
North America is estimated to hold a significant share of the network management system market as there has been a significant increase in the adoption of network management solutions by businesses and enterprises in the region, driven by the growing complexity of networks and the need for streamlined operations. Moreover, the ongoing mergers and acquisitions within the technology sector have led to the consolidation of key players, resulting in more robust and comprehensive offerings. For instance, in February 2020, Arista Networks, a prominent player in cloud networking based in the US, completed the acquisition of Big Switch Networks, a provider of network monitoring and Software Defined Networking (SDN). This strategic move by Arista aimed to enhance its network monitoring and observability offerings.
The research includes coverage of CISCO, IBM, JUNIPER NETWORKS, NOKIA, RIVERBED TECHNOLOGY, MANAGEENGINE, OPEN TEXT CORPORATION, EXTRAHOP NETWORKS, BMC SOFTWARE, b PROGRESS SOFTWARE among others, as significant market players in the network management system industry.
This network management system market report segments the market as below:
• By Component
o Solutions
o Services
• By Deployment Model
o Cloud
o On-Premise
• By Enterprise Size
o Small
o Medium
o Large
• By End-User
o Communication and Technology
o BFSI
o Government
o Manufacturing
o Retail
o Transportation and Logistics
o Others
• By Geography
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• United Kingdom
• Germany
• France
• Spain
• Others
o Middle East and Africa
• Israel
• Saudi Arabia
• Others
o Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Taiwan
• Thailand
• Indonesia
• Other
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Ankit Mishra
Knowledge Sourcing Intelligence
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